NEW YORK--(BUSINESS WIRE)--WelCan
Capital, a cannabis-focused venture capital firm, announced the
launch of the first impact
investment fund focused on bolstering the cannabis
industry and addressing the challenges and injustices stemming from
cannabis prohibition. Leveraging a ‘people + purpose + profits’
philosophy, the new fund will invest in four core verticals across
plant-touching and ancillary businesses in the cannabis sector: Business
Services, Emerging Technology, Software and Licensed Operations.

“The lack of institutional capital in the space creates a compelling
opportunity for investors,” said Vikas Desai, partner at WelCan Capital.
“Our focus is to drive performance, while also playing a vital role in
shaping the future of key issues today: sustainability, medicinal
research, criminal justice reform and our nation’s opioids crisis. We
know creating lasting, responsible change and maximizing opportunities
for investors are not mutually exclusive. We look forward to driving
financial and social returns for our investors, the industry and
communities at large.”

WelCan Capital’s Fund I will invest in companies that share in the
firm’s vision and values of an ethical and sustainable cannabis industry
that is well positioned for long-term success. Fund I will give back a
portion of its profits annually to select organizations that have
demonstrated efforts to move the cannabis industry forward in a
responsible way.

Initial Fund I investments include:

Sanctuary
Medicinals, a Massachusetts based,
vertically-integrated licensed operator with a commitment to efficient
production methods and outstanding patient care; and

Treez,
a leading enterprise SaaS platform for dispensaries that optimizes
dispensary operations and customer experience

“At WelCan, we consider what the cannabis industry will look like in
3-5-10 years and focus on technologies and services that will be needed
in the future,” said John Twomey, partner at WelCan Capital. “Our
forward-thinking vision helps us handpick strategic early-stage and
growth opportunities that will drive lasting change. We particularly
believe that partnering with experienced management teams, who possess a
clear purpose and track record of success, make the smartest
investments.”